Investing in Uzbekistan; Hedge Funds Resillient

Date: Monday, April 20, 2009
Author: Alex Akesson, HedgeCo.Net

Hedge fund manager Ansher Fund Management says that March has been positive all across the markets and AREF (Ansher Regional Equity Fund) was able to gain to gain 3.2%.

The hedge fund manager increased holdings in Kazakhstan and Kyrgyzstan as together with Uzbekistan, Ansher believes that these will be the strongest performers in the region. Regarding risk exposure, "we like it as is, given the high diversification on both, sector and position level, shields us from extreme market moves," Pascal Buschor, Executive Director at Ansher, said.

Benchmarks have performed positive because of the increase in oil & gas and metals prices in March, giving investors some level of comfort in the markets, the fund says. 

The economy of Uzbekistan has also shown resilience against the effects of global liquidity crisis. The implementation of the anti-crisis program measures has started in Uzbekistan, and the results of consequent two months showed the program is producing its first satisfactory results, the fund says.

Kazakhstan’s government has further demonstrated strong political will to support the economy by adopting the national anti crisis program. Government plans to inject some $14 billion.